Decentralized Finance, commonly known as DeFi, is rapidly reshaping the landscape of financial transactions and systems in our increasingly digital world. This innovative approach to finance merges traditional monetary processes with the cutting-edge technology of blockchain, offering a more accessible, transparent, and efficient financial system. In this guide, we delve into the question “What Is DeFi”, we aim to demystify decentralized finance, illustrating its importance and impact in today’s financial and cryptocurrency landscapes. What Is DeFi? DeFi, short for Decentralized Finance, represents a paradigm shift in the way we think about financial services. At its core, DeFi is an umbrella term for a variety of financial applications in cryptocurrency or blockchain geared toward disrupting financial intermediaries. Unlike traditional banking systems that rely on institutions like banks and governments, DeFi operates on a decentralized network, typically using blockchain technology. This means that DeFi platforms are not controlled by any single entity and are instead maintained by a distributed network of computers. DeFi encompasses a broad spectrum of financial services, including lending, borrowing, trading, investment, and insura ..
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